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InfraCap REIT Preferred ETF (NYSE Arca: PFFR) Declares Monthly Dividend

PR Newswire

NEW YORK, Aug. 19, 2021 /PRNewswire/ — The InfraCap REIT Preferred ETF (NYSE Arca: PFFR) (the “Fund”) has declared a monthly distribution of $0.12 per share ($1.44 per share on an annualized basis).  The distribution will be paid August 30, 2021 to shareholders of record as of the close of business August 23, 2021.

PFFR Cash Distribution:

  • Ex-Date: Friday, August 20, 2021
  • Record Date: Monday, August 23, 2021
  • Payable Date: Monday, August 30, 2021

Infrastructure Capital Advisors expects to declare future dividends on a monthly basis.  Distributions are planned, but not guaranteed, for every month.  The next distribution is scheduled to occur in September 2021.

For more information about PFFR’s distribution policy, its 2021 distribution calendar, or tax information, please visit the Fund’s website at www.virtusetfs.com.

About Virtus ETF Advisers

Virtus ETF Advisers is a New York-based, multi-manager ETF sponsor and affiliate of Virtus Investment Partners. With actively managed and index-based investment capabilities across multiple asset classes, Virtus offers a range of complementary exchange-traded-funds subadvised by select investment managers.

About Infrastructure Capital Advisors, LLC

Infrastructure Capital Advisors, LLC (ICA) is an SEC-registered investment advisor that manages exchange traded funds and a series of hedge funds. The firm was formed in 2012 and is based in New York City.  ICA seeks total-return opportunities in key infrastructure sectors, including energy, real estate, transportation, industrials and utilities. It often identifies opportunities in entities that are not taxed at the entity level, such as master limited partnerships (“MLPs”) and real estate investment trusts (“REITs”).  It also looks for opportunities in credit and related securities, such as preferred stocks.  Current income is a primary objective in most, but not all, of the company’s investing activities. The focus is generally on asset-intensive companies that generate and distribute substantial streams of free cash flow. For more information, please visit www.infracapfunds.com.

DISCLOSURE

Fund Risks

Exchange-Traded Funds (ETF): The value of an ETF may be more volatile than the underlying portfolio of securities it is designed to track. The costs of owning the ETF may exceed the cost of investing directly in the underlying securities. Preferred Stocks: Preferred stocks may decline in price, fail to pay dividends, or be illiquid. Real Estate Investments: The Fund may be negatively affected by factors specific to the real estate market, including interest rates, leverage, property, and management. Industry/Sector Concentration: A Fund that focuses its investments in a particular industry or sector will be more sensitive to conditions that affect that industry or sector than a non-concentrated Fund. Passive Strategy/Index Risk: A passive investment strategy seeking to track the performance of the underlying index may result in the Fund holding securities regardless of market conditions or their current or projected performance. This could cause the Fund’s returns to be lower than if the Fund employed an active strategy. Correlation to Index: The performance of the Fund and its index may vary somewhat due to factors such as Fund flows, transaction costs, and timing differences associated with additions to and deletions from its index. Market Volatility: Securities in the Fund may go up or down in response to the prospects of individual companies and general economic conditions. Price changes may be short or long term. Prospectus: For additional information on risks, please see the Fund’s prospectus.

You should consider the Fund’s investment objectives, risks, and charges and expenses carefully before investing. Contact ETF Distributors LLC at 1-888-383-4184 or visit

www.virtusetfs.com

  to obtain a prospectus which contains this and other information about the Fund. The prospectus should be read carefully before investing.

Virtus ETF Advisers, LLC serves as the investment advisor and Infrastructure Capital Advisors, LLC serves as the subadviser to the Fund.

The Fund is distributed by VP Distributors, LLC, member FINRA and subsidiary of Virtus Investment Partners, Inc.

 

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SOURCE InfraCap REIT Preferred ETF

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Universal Security Instruments Reports First-Quarter Results

PR Newswire

OWINGS MILLS, Md., Aug. 19, 2021 /PRNewswire/ — Universal Security Instruments, Inc. (NYSE Amex: UUU) today announced results for its fiscal quarter ended June 30, 2021.

The Company reported that sales increased approximately 58.7% to $4,667,998 for the quarter ended June 30, 2021, versus $2,940,768 for the comparable period of last year.  The Company reported net income of $14,641, or $0.01 per basic and diluted share, compared to a net loss of $78,982, or $(0.03) per basic and diluted share, for the same period last year.

“Universal is pleased to return to profitability for it first quarter despite the supply chain and transportation cost issues which are continuing. We are working with our suppliers and customers to mitigate these issues as much as possible.” said Harvey Grossblatt – President and CEO.

UNIVERSAL SECURITY INSTRUMENTS, INC. is a U.S.-based manufacturer  and distributor of safety and security devices. Founded in 1969, the Company has an over 52-year heritage of developing innovative and easy-to-install products, including smoke, fire and carbon monoxide alarms.  For more information on Universal Security Instruments, visit our website at www.universalsecurity.com.  

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Certain matters discussed in this news release may constitute forward-looking statements within the meaning of the federal securities laws that inherently include certain risks and uncertainties.  Actual results could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including, among other items, currency fluctuations, the impact of current and future laws and governmental regulations affecting us and other factors which may be identified from time to time in our Securities and Exchange Commission filings and other public announcements.  We do not undertake and specifically disclaim any obligation to update any forward-looking statements to reflect occurrence of anticipated or unanticipated events or circumstances after the date of such statements.  We will revise our outlook from time to time and frequently will not disclose such revisions publicly.

 


UNIVERSAL SECURITY INSTRUMENTS, INC.



CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

Three Months Ended June 30,

2021

2020

Sales

$4,667,998

$2,940,768

Net income (loss):

14,641

(78,982)

       Net Income (loss) per share – basic and diluted

0.01

(0.03)

Weighted average number of common shares outstanding:

       Basic and diluted

2,312,887

2,312,887

 

 



CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

ASSETS

June 30, 2021

June 30, 2020

Cash

$50,371

$278,234

Accounts receivable and amount due from factor

2,904,755

1,849,881

Inventory

4,106,328

4,620,029

Prepaid expense

383,833

151,436

TOTAL CURRENT ASSETS

7,445,287

6,899,580

PROPERTY, EQUIPMENT AND INTANGIBLE ASSETS–NET

184,691

354,098

OTHER ASSETS

4,000

4,000

TOTAL ASSETS

$7,633,978

$7,257,678

LIABILITIES AND SHAREHOLDERS’ EQUITY

Line of credit – factor

$105,283

$777,685

Note payable – Eyston Company Ltd.

1,081,440

–

Note payable – bank

–

221,400

Short-term portion of operating lease liability

128,341

161,655

Accounts payable and accrued expenses

1,404,569

302,683

Accrued liabilities

183,148

214,440

TOTAL CURRENT LIABILITIES

2,902,781

1,677,863

NOTE PAYABLE – Eyston Company Ltd.

–

1,081,440

LONG TERM OPERATING LEASE LIABILITY

–

129,144

TOTAL LONG-TERM LIABILITIES

–

1,210,584

SHAREHOLDERS’ EQUITY:

       Common stock, $.01 par value per share; authorized
      
20,000,000 shares; issued and outstanding 2,312,887 
       at June 30, 2021 and 2020

23,129

23,129

Additional paid-in capital

12,885,841

12,885,841

Accumulated Deficit

(8,177,773)

(8,539,739)

TOTAL SHAREHOLDERS’ EQUITY

4,731,197

4,369,231

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$7,633,978

$7,257,678

 

Contact:  Harvey Grossblatt, CEO   
Universal Security Instruments, Inc. 
(410) 363-3000, Ext. 224 
or 
Zachary Mizener  
Lambert & Co.  
(315) 529-2348

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SOURCE Universal Security Instruments, Inc.

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InfraCap MLP ETF (NYSE Arca: AMZA) Declares Monthly Distribution

PR Newswire

NEW YORK, Aug. 19, 2021 /PRNewswire/ — The InfraCap MLP ETF (NYSE Arca: AMZA) (the “Fund”) has declared a monthly distribution of $0.22 ($2.64 per share on an annualized basis).  The distribution will be paid August 30, 2021 to shareholders of record as of the close of business August 23, 2021.

AMZA Cash Distribution:

  • Ex-Date: Friday, August 20, 2021
  • Record Date: Monday, August 23, 2021
  • Payable Date: Monday, August 30, 2021

The Fund estimates that 100 percent of the distribution, or $0.22 per share, is attributable to return of capital and that 0.00 percent, or $0.00 per share, is attributable to dividend income. Infrastructure Capital Advisors expects to declare future distributions on a monthly basis. Distributions are planned, but not guaranteed, for every month. The next distribution is scheduled to occur in September 2021.

For more information about AMZA’s distribution policy, its 2021 distribution calendar, or tax information, please visit the Fund’s website at www.virtusetfs.com.

About Virtus ETF Advisers

Virtus ETF Advisers is a New York-based, multi-manager ETF sponsor and affiliate of Virtus Investment Partners. With actively managed and index-based investment capabilities across multiple asset classes, Virtus offers a range of complementary exchange-traded-funds subadvised by select investment managers.

About Infrastructure Capital Advisors

Infrastructure Capital Advisors, LLC (ICA) is an SEC-registered investment advisor that manages exchange traded funds and a series of hedge funds. The firm was formed in 2012 and is based in New York City.  ICA seeks total-return opportunities in key infrastructure sectors, including energy, real estate, transportation, industrials and utilities. It often identifies opportunities in entities that are not taxed at the entity level, such as master limited partnerships (“MLPs”) and real estate investment trusts (“REITs”).  It also looks for opportunities in credit and related securities, such as preferred stocks.  Current income is a primary objective in most, but not all, of the company’s investing activities. The focus is generally on asset-intensive companies that generate and distribute substantial streams of free cash flow. For more information, please visit www.infracapfunds.com.

DISCLOSURE

Fund Risks

Exchange Traded Funds: The value of an ETF may be more volatile than the underlying portfolio of securities the ETF is designed to track. The costs of owning the ETF may exceed the cost of investing directly in the underlying securities.

MLP Interest Rates: As yield-based investments, MLPs carry interest rate risk and may underperform in rising interest rate environments. Additionally, when investors have heightened fears about the economy, the risk spread between MLPs and competing investment options can widen, which may have an adverse effect on the stock price of MLPs. Rising interest rates may increase the potential cost of MLPs financing projects or cost of operations, and may affect the demand for MLP investments, either of which may result in lower performance by or distributions from the Fund’s MLP investments.

Industry/Sector Concentration: A fund that focuses its investments in a particular industry or sector will be more sensitive to conditions that affect that industry or sector than a non-concentrated fund.

Short Sales: The Fund may engage in short sales, and may experience a loss if the price of a borrowed security increases before the date on which the Fund replaces the security.

Leverage: When a Fund leverages its portfolio, the value of its shares may be more volatile and all other risks may be compounded.

Derivatives: Investments in derivatives such as futures, options, forwards, and swaps may increase volatility or cause a loss greater than the principal investment.

MLPs: Investments in Master Limited Partnerships may be adversely impacted by tax law changes, regulation, or factors affecting underlying assets.

No Guarantee: There is no guarantee that the portfolio will meet its objective.

You should consider the Fund’s investment objectives, risks, and charges and expenses carefully before investing. Contact ETF Distributors LLC at 1-888-383-4184 or visit

www.infracapmlp.com

 to obtain a prospectus which contains this and other information about the Fund. The prospectus should be read carefully before investing.

Virtus ETF Advisers, LLC serves as the investment advisor and Infrastructure Capital Advisors, LLC serves as the sub-advisor to the Fund.

The Fund is distributed by VP Distributors, LLC, member FINRA and subsidiary of Virtus Investment Partners, Inc.

 

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SOURCE InfraCap MLP ETF

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Cathay General Bancorp Declares $0.31 Per Share Dividend

PR Newswire

LOS ANGELES, Aug. 19, 2021 /PRNewswire/ — Cathay General Bancorp (Nasdaq: CATY) announced that its Board of Directors declared a cash dividend of thirty-one cents per common share, payable on September 9, 2021, to stockholders of record at the close of business on August 30, 2021.

ABOUT CATHAY GENERAL BANCORP

Cathay General Bancorp is the holding company for Cathay Bank, a California state-chartered bank.  Cathay General Bancorp’s website is found at www.cathaygeneralbancorp.com. Founded in 1962, Cathay Bank offers a wide range of financial services. Cathay Bank currently operates 37 branches in California, 10 branches in New York State, four in Washington State, two in Illinois, two in Texas, one in Maryland, one in Massachusetts, one in Nevada, one in New Jersey, one in Hong Kong, and a representative office in Beijing, Shanghai and Taipei. Cathay Bank’s website is found at www.cathaybank.com.

 

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SOURCE Cathay General Bancorp

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Wabash National Corporation Announces $150 Million Increase to Stock Repurchase Program

LAFAYETTE, Ind., Aug. 19, 2021 (GLOBE NEWSWIRE) — Wabash National Corporation (NYSE: WNC) today announced that its Board of Directors has authorized the company to repurchase up to an additional $150 million of its common stock through August 2024, representing approximately 20 percent of the company’s current market capitalization. This is an increase to the existing repurchase program approved in November 2018, of which approximately $1 million was available as of August 19, 2021.

Brent Yeagy, president and chief executive officer, said, “Since 2015, we have returned approximately $360 million to our stockholders through discretionary repurchase authorizations. This is the largest stock repurchase authorization in the company’s history and reflects the level of confidence we have in our strategic plan, our ability to deliver future results and our strong financial foundation. Going forward, our strategy is to balance targeted organic and strategic growth investments with returning cash to shareholders all while maintaining healthy liquidity levels.”

Stock repurchases under this program may be made in the open market or in private transactions at times and in amounts determined by the company. The company, at its sole discretion, may limit or terminate the stock repurchase program at any time based on market conditions, liquidity needs or other factors. The program is intended to enhance stockholder value by reducing the overall number of outstanding shares, including by offsetting dilution resulting from stock-based compensation programs.

About Wabash National Corporation

As the innovation leader of engineered solutions for the transportation, logistics and distribution industries, Wabash National Corporation (NYSE:WNC) is Changing How the World Reaches You™. Headquartered in Lafayette, Indiana, the Company’s mission is to enable customers to succeed with breakthrough ideas and solutions that help them move everything from first to final mile. Wabash National designs and manufactures a diverse range of products, including: dry freight and refrigerated trailers, platform trailers, liquid tank trailers, dry and refrigerated truck bodies, structural composite panels and products, trailer aerodynamic solutions and specialty food grade equipment. Its innovative products are sold under the following brand names: Wabash National®, Benson®, Brenner® Tank, Bulk Tank International, DuraPlate®, Supreme®, Transcraft®, Walker Engineered Products, and Walker Transport. Learn more at www.wabashnational.com.

Safe Harbor Statement

This press release contains certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements convey the Company’s current expectations or forecasts of future events. All statements contained in this press release other than statements of historical fact are forward-looking statements, including statements regarding the implementation of and timing for the repurchase program, the Company’s capital allocation strategy and ability to return capital to stockholders, expectations for cash generation and cash flow, the ability to continue both a stock repurchase program and a quarterly dividend, deleveraging the balance sheet, and growing the business. The Company’s forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements.  Without limitation, these risks and uncertainties include changes in economic conditions, changes in the Company’s business and results of operations, access to capital, availability of alternative uses of capital, and other risks, including those set forth in the various disclosures made in the Company’s filings with the Securities and Exchange Commission.

Media Contact:

Dana Stelsel
Director, Corporate Communications
(765) 771-5766
[email protected]

Investor Relations:

Ryan Reed
Director, Corporate Development & Investor Relations
(765) 490-5664
[email protected]



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Constellation Brands to Present Virtually at the Barclays Global Consumer Staples Conference on September 8, 2021

VICTOR, N.Y., Aug. 19, 2021 (GLOBE NEWSWIRE) — Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that Garth Hankinson, chief financial officer, will present virtually at the 2021 Barclays Global Consumer Staples Conference on Wednesday, September 8, 2021. The presentation is scheduled to begin at noon ET and is expected to cover the company’s strategic business initiatives, financial metrics, operating performance, as well as outlook for the future.

A live, listen-only webcast of the virtual presentation will be available on the company’s website, which can be accessed at www.cbrands.com, under the Investors/Events & Presentations section. When the presentation begins, financial information discussed in the presentation, and a reconciliation of reported (GAAP) financial measures with comparable or non-GAAP financial measures, will also be available on the company’s website under Investors and by selecting Reporting. For anyone unable to participate in the live webcast, a replay will be available on the company’s website through the close of business on October 8, 2021.

ABOUT CONSTELLATION BRANDS

At Constellation Brands (NYSE: STZ and STZ.B), our mission is to build brands that people love because we believe sharing a toast, unwinding after a day, celebrating milestones, and helping people connect, are Worth Reaching For. It’s worth our dedication, hard work, and the bold calculated risks we take to deliver more for our consumers, trade partners, shareholders, and communities in which we live and work. It’s what has made us one of the fastest-growing large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what’s next.

Today, we are a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Every day, people reach for our high-end, iconic imported beer brands such as Corona Extra, Corona Light, Corona Premier, Modelo Especial, Modelo Negra, and Pacifico, and our high-quality premium wine and spirits brands, including the Robert Mondavi Brand Family, Kim Crawford, Meiomi, The Prisoner Brand Family, SVEDKA Vodka, Casa Noble Tequila, and High West Whiskey.

But we won’t stop here. Our visionary leadership team and passionate employees from barrel room to boardroom are reaching for the next level, to explore the boundaries of the beverage alcohol industry and beyond. Join us in discovering what’s Worth Reaching For.

To learn more, follow us on Twitter @cbrands and visit www.cbrands.com.

MEDIA CONTACTS INVESTOR RELATIONS CONTACTS
Mike McGrew 773-251-4934 / [email protected]
Amy Martin 585-678-7141 / [email protected]		 Patty Yahn-Urlaub 585-678-7483 / [email protected]
Marisa Pepelea 312-741-2316 / [email protected]

A downloadable PDF copy of this news release can be found here: http://ml.globenewswire.com/Resource/Download/b68e6362-bd67-4b72-b8b0-e575a05151f6



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Sprout Social to Host 2021 Investor Day

CHICAGO, Aug. 19, 2021 (GLOBE NEWSWIRE) — Sprout Social, Inc. (“Sprout Social”, the “Company”) (Nasdaq: SPT), an industry-leading provider of cloud-based social media management software, today announced that it will host its first investor day on Wednesday, September 22, 2021 beginning at 9am CT.

Please join our executive team for a discussion of the vision, people and product that we believe will strengthen our foundation and position the company to capitalize on a large and growing opportunity ahead. Registration for the virtual-only event can be found at http://sproutsocial.com/investor-day and the event will also be webcast live in this location.

Following the presentation, an archived replay will be made available at http://investors.sproutsocial.com.

About Sprout Social

Sprout Social offers deep social media listening and analytics, social management, customer care, commerce and advocacy solutions to more than 29,000 brands and agencies worldwide. Sprout’s unified platform integrates the power of social throughout every aspect of a business and enables social leaders at every level to extract valuable data and insights that drive their business forward. Headquartered in Chicago, Sprout operates across major social media networks, including Twitter, Facebook, Instagram, Pinterest, YouTube and LinkedIn.

Availability of Information on Sprout Social’s Website and Social Media Profiles

Investors and others should note that Sprout Social routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the Sprout Social Investors website. We also intend to use the social media profiles listed below as a means of disclosing information about us to our customers, investors and the public. While not all of the information that the Company posts to the Sprout Social Investors website or to social media profiles is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media, and others interested in Sprout Social to review the information that it shares at the Investors link located at the bottom of the page on www.sproutsocial.com and to regularly follow our social media profiles. Users may automatically receive email alerts and other information about Sprout Social when enrolling an email address by visiting “Email Alerts” in the “Shareholder Services” section of Sprout Social’s Investor website at https://investors.sproutsocial.com/.

Social Media Profiles:

www.twitter.com/SproutSocial
www.twitter.com/SproutSocialIR
www.facebook.com/SproutSocialInc
www.linkedin.com/company/sprout-social-inc-/
www.instagram.com/sproutsocial



Contact

Media:
Kaitlyn Gronek
Email: [email protected]
Phone: (773) 904-9674

Investors:
Jason Rechel
Twitter: @SproutSocialIR
Email: [email protected]
Phone: (312) 528-9166

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Cerner Announces Appointment of David Feinberg, M.D. as President and Chief Executive Officer

Highly Accomplished Visionary with Proven Track Record of Leading Healthcare Businesses

Cerner Board Separates Chairman and CEO Roles and Names William Zollars Chairman of Board of Directors

KANSAS CITY, Mo., Aug. 19, 2021 (GLOBE NEWSWIRE) — Cerner Corporation (Nasdaq: CERN) today announced that its Board of Directors has appointed David Feinberg, M.D., MBA, as President and Chief Executive Officer, effective October 1, 2021. He succeeds Brent Shafer, who previously announced his decision to transition from chairman and CEO. Dr. Feinberg will serve as a member of the Board of Directors. Cerner’s current President, Donald Trigg, will leave Cerner. Cerner’s Board of Directors also announced that it will separate the roles of chairman and Chief Executive Officer and has appointed William Zollars as independent chairman, also effective October 1, 2021.

Dr. Feinberg, 59, has served in numerous senior leadership roles during his more than 25-year career in healthcare, and joins Cerner from Google. Since 2019, Dr. Feinberg was the Vice President of Google Health, where he led Google’s worldwide health efforts, bringing together groups from across Google and Alphabet that used artificial intelligence, product expertise and hardware to tackle some of healthcare’s biggest challenges, and was responsible for organizing and innovating Google’s various healthcare initiatives. Prior to Google, he served as President and CEO of Geisinger Health—a physician-led health system, and one of the nation’s most innovative health services organizations. At Geisinger, Dr. Feinberg led an operational turnaround, and pushed the use of new platforms and tools, including an IT system called a Unified Data Architecture that allowed the company to integrate big data into existing data analytics and management systems. During his Geisinger tenure, Dr. Feinberg also introduced programs and services to put a greater focus on precision medicine and better patient care. Prior to Geisinger, Dr. Feinberg worked at UCLA for more than 20 years and served in a number of leadership roles, including President, CEO and Associate Vice Chancellor of UCLA Health Sciences, Vice Chancellor and CEO for the UCLA Hospital System, and CEO of UCLA’s Ronald Reagan Medical Center. Throughout his career, Dr. Feinberg has been driven by a passion to leverage technology to better-enable providers to deliver the very best clinical care.

“Over the past few months, our Board conducted an extensive search for a CEO candidate with the expertise and ability to effectively capitalize on the opportunities in the market we serve,” said Mitch Daniels, member of the Cerner Board and Chair of the Nominating, Governance and Public Policy Committee. “With his exceptional track record of leading and innovating programs to improve patient care, technology experience, and industry expertise, we believe Dr. Feinberg is the ideal CEO to lead Cerner in its next chapter of growth and success.”

“On behalf of the entire Cerner Board and organization, I want to thank Brent for his dedicated service and commitment to transforming Cerner over the last three-plus years and express our appreciation that he will ensure a smooth transition,” said William Zollars, lead independent director and incoming chairman of the Board. “We are fortunate to have someone with Dr. Feinberg’s skills, vision and operational expertise to lead Cerner at such a pivotal time in our evolution. We are thrilled to welcome him to the Cerner family and look forward to benefiting from his insights and leadership as we continue evolving and executing our strategies.”

“I am honored to join Cerner and look forward to working closely with Cerner’s talented associates as we continue to profitably grow the business by driving global healthcare transformation,” Dr. Feinberg said. “Throughout my career, I’ve been guided by the goal of improving patient health and reducing the complexity of the healthcare system. I am thrilled to join a company that is so uniquely well-positioned to provide technology solutions that enable clinicians to take better care of patients while driving better clinical, operational, and financial outcomes for organizations of all sizes. I look forward to expanding opportunities for Cerner clients and associates while affecting real change in healthcare and enhancing value for our shareholders.”

“Cerner will be well-served under Dr. Feinberg’s capable leadership,” Mr. Shafer said. “Dr. Feinberg has had an exceptional career in healthcare, and his industry expertise, patient-centric mindset, and organizational leadership experience make him ideally qualified to lead the company through its next chapter. I am delighted to work closely with Dr. Feinberg as we begin the transition.”

Mr. Zollars said, “I would like to thank Don for his impact at Cerner. He has helped shape the trajectory of the company and our role within the industry. We wish him the best in his future endeavors.”

About David Feinberg, M.D.

In his most recent role, Dr. Feinberg served as Vice President of Google Health. Prior to that role Dr. Feinberg was President & CEO of Geisinger, one of the nation’s most innovative health services organizations. While at Geisinger, David oversaw 13 hospital campuses, a 600,000-member health plan, research centers, and various initiatives aimed at better engaging patients around their health and well-being. Prior to Geisinger, Dr. Feinberg served as CEO of UCLA’s hospitals and associate vice chancellor of UCLA Health Sciences, as well as president of UCLA Health System. Dr. Feinberg earned his undergraduate degree at the University of California, Berkeley. He graduated with distinction from the University of Health Sciences/Chicago Medical School. He completed an internship in pediatrics at Loyola University Medical Center, and residency and fellowship training in psychiatry, addiction psychiatry, and child and adolescent psychiatry at the UCLA School of Medicine. He earned a Master of Business Administration from Pepperdine University. A well-known national speaker and author of numerous articles and co-author of “ProvenCare,” Dr. Feinberg is a member of the Alpha Omega Alpha Medical Honor Society, a Distinguished Fellow of American Psychiatric Association and received the Cancro Academic Leadership Award from the American Academy of Child & Adolescent Psychiatry.

About William Zollars

Mr. Zollars has been a member of the Cerner Board of Directors since May 2005 and has served as lead independent director since April 2019. Mr. Zollars is the former chairman, president and chief executive officer of YRC Worldwide (now known as YRC Freight). YRC Freight provides transportation and global logistics services. He was president of Yellow Transportation, Inc., from September 1996 through November 1999. Prior to that, Mr. Zollars was senior vice president of Ryder Integrated Logistics. He also held various executive positions with Eastman Kodak and serves on the board of directors of Prologis, Inc.   Mr. Zollars has a bachelor’s in economics from the University of Minnesota and is a member of Phi Beta Kappa.

Cerner’s Board of Directors retained Heidrick & Struggles, a leading global executive search firm, to assist in its search process.

About Cerner

Cerner’s health technologies connect people and information systems in thousands of worldwide facilities dedicated to creating smarter and better care for individuals and communities. Recognized globally for innovation, Cerner assists clinicians in making care decisions and assists organizations in managing the health of their populations. The company also offers an integrated clinical and financial system to help manage day-to-day revenue functions, as well as a wide range of services to support clinical, financial and operational needs, focused on people. For more information, visit Cerner.com, The Cerner Blog, The Cerner Podcast or connect on Facebook, Instagram, LinkedIn or Twitter. Nasdaq: CERN. Smarter Care. Better Outcomes. Healthier You.

Investor Contact: Allan Kells, (816) 201-2445, [email protected]
Media Contact: Misti Preston, (816) 299-2037, [email protected]

Cerner’s Internet Home Page: www.cerner.com

All statements in this press release that do not directly and exclusively relate to historical facts constitute forward-looking statements. These forward-looking statements are based on the current beliefs, expectations and assumptions of Cerner’s management with respect to future events and are subject to a number of significant risks and uncertainties. It is important to note that Cerner’s performance, and actual results, financial condition or business could differ materially from those expressed in such forward-looking statements. The words “believe”, “opportunities” and “positioned” are intended to identify such forward-looking statements. For example, our forward-looking statements include statements regarding Cerner’s future growth or success. Factors that could cause or contribute to such differences include, but are not limited to, the risks associated with the loss or recruitment and retention of key personnel or the failure to successfully develop and execute succession planning to assure transitions of key associates and their knowledge, relationships and expertise. Additional discussion of these and other risks, uncertainties and factors affecting Cerner’s business is contained in Cerner’s filings with the Securities and Exchange Commission. The reader should not place undue reliance on forward-looking statements, since the statements speak only as of the date that they are made. Except as required by law, Cerner undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes in our business, results of operations or financial condition over time.



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Schwab Announces Pay Increase for Employees

Schwab Announces Pay Increase for Employees

WESTLAKE, Texas–(BUSINESS WIRE)–
The Charles Schwab Corporation today announced it is implementing a special five percent pay increase for employees in recognition of their unwavering service to clients and each other throughout the pandemic.

“Our teams’ focus and dedication have resulted in outstanding results for our clients and growth for the company,” said Walt Bettinger, President and CEO, The Charles Schwab Corporation. “This increase is a way to reward our talented employees for their contributions and their relentless commitment to see the world through clients’ eyes, even during the most challenging times.”

In a note to employees on Thursday, the company’s Executive Council added, “You all have gone above and beyond to ensure our clients are well cared for, our culture remains strong, and our business remains sound under the most extraordinary circumstances. Thank you once more from all of us on the Executive Council for helping this company live up to its promise.”

This year a record number of investors turned to Schwab for help in navigating unprecedented market conditions. The firm’s core net new assets reached a record $257.0 billion for the first half 2021, more than double the results achieved during the same period last year. During the same period, clients opened 4.8 million new brokerage accounts representing the company’s second and third consecutive quarters in excess of a million new accounts.

This special increase will be applied to the vast majority of the company’s employees, effective late September 2021. It will not include the company’s Executive Council or colleagues participating in Schwab’s incentive compensation plans.

The firm also announced additional steps it is taking to address pandemic concerns and provide workplace flexibility for its employees going forward. In light of current circumstances, the firm has delayed a full Return to Office until January 2022, at the earliest. In the meantime, employees can continue to work from home, or return to the office on a voluntary basis. Once back in the office, Schwab employees will enjoy additional workplace flexibility, based on a hybrid work schedule. Employees will also have the ability to work with their manager to determine an approach that works for their individual situation, should they need additional flexibility.

To learn more information about Schwab or to apply to join the team, visit here.

About The Charles Schwab Corporation

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 32.4 million active brokerage accounts, 2.2 million corporate retirement plan participants, 1.6 million banking accounts, and $7.6 trillion in client assets as of July 31, 2021. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiaries, Charles Schwab & Co., Inc., TD Ameritrade, Inc., and TD Ameritrade Clearing, Inc., (members SIPC, www.sipc.org), and their affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.aboutschwab.com.

TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc. are separate but affiliated companies and subsidiaries of TD Ameritrade Holding Corporation. TD Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank.

Mayura Hooper

Charles Schwab

Phone: 415-667-1525

KEYWORDS: United States North America Texas

INDUSTRY KEYWORDS: Finance Consulting Banking Professional Services Other Professional Services

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Cable One Provides Update on Annual Meeting of Stockholders

Cable One Provides Update on Annual Meeting of Stockholders

PHOENIX–(BUSINESS WIRE)–
On May 21, 2021, Cable One, Inc. (NYSE:CABO) (the “Company” or “Cable One”) held its 2021 annual meeting of stockholders (the “Annual Meeting”). The Company’s Amended and Restated By-laws (the “By-laws”) provide for majority voting in uncontested director elections, and any incumbent director who does not receive a majority of the votes cast must submit an offer to resign from the Company’s Board of Directors (the “Board”) no later than two weeks after the Company certifies the voting results. As previously disclosed, at the Annual Meeting, Thomas S. Gayner received less than a majority of the votes cast and, as a result, Mr. Gayner submitted to the Company an offer to resign from the Board in accordance with the By-laws.

The voting results at the Annual Meeting with respect to Mr. Gayner were apparently primarily due to the “overboarding” policies of certain institutional investors and third-party corporate governance firms that set limits on the number of public company boards of directors on which a nominee for director may serve, and often include more stringent requirements for nominees serving as a chief executive officer of a public company. These “overboarding” policies are general policies that various institutional investors and corporate governance firms apply to all public companies, often without regard to individual circumstances. In addition to serving as a member of the Board, Mr. Gayner currently serves on the boards of Colfax Corporation, Graham Holdings Company (Cable One’s parent company prior to the Company’s July 2015 spin-off), The Davis Series Mutual Funds and Markel Corporation (“Markel”). Mr. Gayner is also the co-chief executive officer of Markel. In considering Mr. Gayner’s offer to resign from the Board, the Board was to determine, under the majority voting policy as provided under the By-laws, and based on the individual circumstances of the Company and Mr. Gayner, whether Mr. Gayner may or may not be capable of adequately fulfilling his responsibilities to the Board and the Company’s stockholders, notwithstanding his commitments to other companies.

In accordance with the Company’s majority voting policy as provided under the By-laws, the Board considered Mr. Gayner’s offer to resign from the Board and determined that it was in the best interests of the Company and its stockholders to reject Mr. Gayner’s resignation offer, subject to Mr. Gayner reducing the number of public company boards on which he serves by one prior to March 31, 2022 (and in the event Mr. Gayner does not so reduce the number of public company boards on which he serves by such date his offer to resign will be deemed accepted by the Board). Mr. Gayner did not participate in the Board’s review of, or determination with respect to, his tendered resignation offer.

In connection with the Board’s review and consideration of Mr. Gayner’s resignation offer, the Company conducted stockholder outreach. Specifically, the Company contacted stockholders estimated to hold over 86% of the Company’s outstanding shares of common stock to solicit feedback as to whether, with certain changes, those stockholders would support Mr. Gayner continuing to remain on the Board. As a result of the outreach efforts, the Company received feedback from stockholders estimated to hold over 66% of the Company’s outstanding shares of common stock.

The Board’s decision to reject Mr. Gayner’s resignation offer was based on a number of factors, including, but not limited to:

  • The Board’s understanding that the voting results with respect to Mr. Gayner were driven primarily by voting policies under which Mr. Gayner is considered to be “overboarded”;
  • The Board does not believe Mr. Gayner’s service on other public company boards, or as co-chief executive officer of Markel, has adversely affected his service to the Company in his capacity as a director, noting in particular:

    • Mr. Gayner’s consistently high level of commitment towards the Company and regular engagement with management; and
    • Mr. Gayner’s perfect attendance record for Board and Board committee meetings during the past three years;
  • Certain stockholders and corporate governance firms had applied their most restrictive “overboarding” standards to Mr. Gayner because they consider his service as co-chief executive officer of Markel as the equivalent to service as a chief executive officer of a public company, despite the fact that Mr. Gayner shares his duties at Markel with another co-chief executive officer and, accordingly, has a different role at Markel than a typical public company chief executive officer;
  • The feedback received from stockholders as a result of the Company’s outreach efforts, including feedback from certain stockholders who voted against the election of Mr. Gayner at the Annual Meeting that indicated a potential willingness to support Mr. Gayner remaining on the Board if he were to step down from at least one of the other public company boards on which he currently serves;
  • Mr. Gayner has indicated his intention to reduce the number of public company boards on which he serves by one by March 31, 2022;
  • The Company derives numerous benefits from Mr. Gayner’s service on the Board, including his:

    • Experience, perspective and insights which align with the Company’s focus on long-term results;
    • Deep understanding of, and long-standing connections to, the Company’s business, both as a member of the Board and as a member of the Board of Directors of Graham Holdings Company (Cable One’s parent company prior to the Company’s July 2015 spin-off), where he has served as a director since January 2007;
    • Years of service and leadership as the Company’s lead independent director, which has provided stability and continuity during the shift in the Company’s strategic focus to being a broadband-centric connectivity provider;
    • Capital allocation expertise and related contributions to support the Company’s growth strategy, which has included numerous acquisitions, strategic investments and capital raising transactions since the Company’s July 2015 spin-off from Graham Holdings Company;
    • Focus on increasing the gender and racial diversity of the Board while serving as Chair of the Nominating and Governance Committee. His efforts have resulted in the addition of only diverse directors (three directors in total), the Board now being comprised of 60% female directors, and female directors serving as Chair of the Board, Chair of the Audit Committee and Chair of the Compensation Committee; and
    • Understanding of, and involvement with, various stakeholders stemming from his roles at other companies, which provides a unique and valuable resource to the Company; and
  • The feedback received from some of the Company’s stockholders that such stockholders had also voted against Mr. Gayner, as the Chair and member of the Nominating and Governance Committee of the Board, because of certain provisions included in the Company’s Amended and Restated Certificate of Incorporation and Amended and Restated By-laws which require the approval of the Board or the affirmative vote of stockholders holding at least 66 2⁄3% of the combined voting power of the outstanding shares of the Company’s capital stock entitled to vote in the election of directors, voting as a single class, to alter, amend or repeal, or adopt any new provision in, the Company’s Amended and Restated By-laws (collectively, the “Supermajority Vote Requirement”).

After inquiries from the Board, Mr. Gayner has confirmed that he is willing to continue to serve on the Board. As a result of the Board’s determination to reject Mr. Gayner’s resignation offer, Mr. Gayner is expected to continue to serve as a member of the Board until the Company’s 2022 annual meeting of stockholders or until his successor is elected and qualified, if he reduces the number of public company boards on which he serves by one prior to March 31, 2022.

The Company will engage in additional stockholder outreach and will assess the feedback received in determining whether to nominate Mr. Gayner for election at the Company’s 2022 annual meeting of stockholders.

The stockholder outreach conducted to date has provided the Company with new opportunities to engage with the Company’s stockholders and hear their views on important topics aside from Mr. Gayner’s continued service on the Board. After taking into consideration the feedback provided by stockholders during the outreach, the Company intends to take the following two actions in connection with the 2022 annual meeting of stockholders:

  • The Company intends to seek stockholder approval at the Company’s 2022 annual meeting of stockholders to amend the Supermajority Vote Requirement included in the Company’s Amended and Restated Certificate of Incorporation in order to reduce the required stockholder vote from a 66 2⁄3% of the combined voting power standard to a majority of the combined voting power standard (and a similar amendment would be made to the Company’s Amended and Restated By-Laws if the proposed amendment to the Company’s Amended and Restated Certificate of Incorporation is approved at the Company’s 2022 annual meeting of stockholders); and
  • If the Company conducts an online annual stockholders meeting in 2022, it intends to do so in an interactive manner in which stockholders may vote and submit questions while attending the meeting via the internet.

About Cable One

Cable One, Inc. (NYSE: CABO) is a leading broadband communications provider serving more than 1.1 million residential and business customers in 24 states through its Sparklight® and Clearwave® brands. Sparklight provides consumers with a wide array of connectivity and entertainment services, including high-speed internet and advanced Wi-Fi solutions, cable television and phone service. Sparklight Business and Clearwave provide scalable and cost-effective products for businesses ranging in size from small to mid-market, in addition to enterprise, wholesale and carrier customers.

Trish Niemann

Senior Director, Corporate Communications

602.364.6372

[email protected]

Steven Cochran

CFO

[email protected]

KEYWORDS: United States North America Arizona

INDUSTRY KEYWORDS: Entertainment Technology TV and Radio Mobile/Wireless Telecommunications Internet

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